Sample interview questions: Can you explain the process you follow to forecast room demand and adjust availability accordingly?
Sample answer:
Demand Forecasting Process:
- Data Collection: Analyze historical occupancy rates, reservation patterns, market trends, and local events.
- Trend Analysis: Identify seasonality, day-of-week patterns, and other demand drivers using statistical techniques.
- Segmentation: Segment the market into different guest profiles (e.g., business, leisure, group) to understand specific demand patterns.
- Economic Forecasting: Consider economic indicators, industry trends, and competitive factors that may impact demand.
- Collaboration: Consult with sales and marketing teams to gather insights on upcoming events and promotions.
Availability Adjustment:
- Capacity Management: Based on demand forecasts, set room availability limits to optimize occupancy while avoiding overbooking.
- Yield Management: Adjust room rates and availability based on demand to maximize revenue.
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Source: https://hireabo.com/job/11_0_11/Reservations%20Manager